U.S. indexes look set for a weekly loss, after the largest three-day decline in the S&P 500 since March.
Stock futures didn’t give much hope of a significant rebound Friday, though they pointed to a slight gain in the tech-heavy Nasdaq Composite, which is itself on pace for its worst weekly performance in months.
Treasury yields held near multiyear highs Friday. This week’s stock-market downturn was prompted by a selloff in government bonds, as the prospect of a lengthy high interest-rate environment weighed on Wall Street.
In other market news:
The Bank of Japan kept its interest-rate targets unchanged and maintained its hard cap on the 10-year Japanese bond yield. The yen fell against the dollar after the announcement.
European indexes and the euro slipped after eurozone PMI data suggested the bloc’s economy contracted for a fourth consecutive month in September.
Coming up: Preliminary U.S. PMI data for September are due at 9:45 a.m. ET